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Asset’s Appeal is Proximity to Healthy Employment Pool

CHANDLER, AZ—At a basis well below replacement cost, Security Pacific’s purchase of Arches at Hidden Creek is expected to produce outstanding risk-adjusted returns to its investors, says Davis Vaughn.

Arches multifamily Arches sits within five miles of 70,000 jobs, including Silicon Desert, which is one mile south.

CHANDLER, AZ—Arches at Hidden Creek is a garden-style 432-unit apartment community that was constructed in 1986 within the dynamic Chandler submarket. Seattle-based Security Properties recently purchased the multifamily property for $55 million. The seller was a venture between Hamilton Zanze of San Francisco and New York City-based New York Life Real Estate Investors, on behalf of institutional clients.

Chandler’s median annual household income is approximately $71,000, 32% higher than Maricopa County, which covers most of the Phoenix MSA. Indeed, Chandler’s greatest strength is its employment base.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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